The Vault at Riggs Road LLC disposed of its 150,260-square-foot storage and RV building for $25.5 million. The property is located at 12220 E. Riggs Road in Chandler, AZ. The buyer, VRR-1 LLC, represented itself. Denise Nunez and Victoria Filice of NAI Horizons represented the seller.
Matthews Real Estate Investment Services completed the sale of Monroe Self Storage, which has 300-plus units totaling 47,450 square feet in Monroe, GA. National Storage Affiliates is the buyer. Austin McLeod, associate vice president, represented the sellers, two private developers from Atlanta. The facility has a new building with both climate-controlled and non-climate-controlled units, and is located next to the Shops at Breedlove. Source: Matthews Real Estate Investment Services
Argus Self Storage advisors Stuart P. LaGroue Sr. and Bill Barnhill represented the sellers of the 67-unit Price Self Storage of Robertsdale, AL. It has 6,800 rentable square feet. The sales price was $700,000; a local investor was the buyer. LaGroue and Barnhill are the Gulf Coast region broker affiliates of Argus Self-Storage Advisors, based in Denver, CO.
MV Investment sold its most recently developed, climate-controlled self-storage facility in Fort Myers, FL (below) to HPI Real Estate Services & Investments, which is a commercial real estate firm based in Austin, TX. The 100,000-square-foot property has 800-plus units. The facility opened in May. MV Investment, based in Charleston, SC, also owns facilities in Nicholasville, KY; Ormond Beach, FL; Lakeland, FL; and Knoxville, TN. The company also is developing six more facilities in North Carolina and Florida. Source: MV Investment
The $25 million TriCore Storage Fund I LLC was announced by Passive Storage Investing and Tri-Core Investment Group for self-storage purchases. The fund already has closed four deals, with three in Florida plus a recent purchase of a 63,365-square-foot strip mall in Canton, OH that will be reworked into a climate-controlled self-storage facility. The fund also has properties under contract in South Carolina and Texas. Source: Inside Self-Storage
Gantry, a large independent commercial mortgage banking firm based in San Francisco, CA, provided $77 million of permanent financing for two self-storage facilities: Storage Corner Group’s Uptown Storage, which has 60,000 square feet, in Salt Lake City, UT, and Central Storage and Business Park (with 75,000 square feet in St. George, UT). Charlie Kokernak, a director at Gentry in its Portland, OR office, secured the permanent financing on behalf of the borrower.Source: Utah Business
Marcus & Millichap Capital Corp. arranged a $72 million loan to refinance an All About Storage site at 11109 Olive St. in La Vista, a suburb of Omaha, NE. The facility, built in 2005, has 780 units, 83% of which are rented. Phillip Gause of MMCC arranged the 10-year loan. Source: Marcus & Millichap
